American International Industries, Inc. Swings To Profit In The Second Quarter Ended June 30, 2010

August 18, 2010

American International Industries, Inc. (OTCBB: AMIN – $0.80) reported revenues of $6,424,554 for the second quarter ended June 30, 2010 compared to $6,232,115 for the same period in 2009. AMIN reported net income of $1,513,018 or $0.15 per share in the second quarter compared to a net loss of $852,248 for the same period in 2009.

It is important to note that that this swing to net income was primarily a result of consulting service income of $1,370,000 which is not part of normal operations. The consulting fee was paid in the form of 1,000,000 restricted shares of ADB International Group, Inc. (Pink Sheets: ADBI) common stock which had a market value of $1.37 per share on June 21, 2010, the date of issue. At the time of this article, the last sale on ADBI common stock was $1.01. AMIN reported a net operating loss of $643,958 in the second quarter compared to a net operating loss of $519,023 for the same period in 2009.

Revenues for the wholly-owned subsidiary Northeastern Plastics, Inc. saw performed the best of all segments reporting a revenue increase of 36.1% to $2,713,513 for the second quarter ended June 30, 2010 compared to $1,993,405 for the same period in 2009. This was the only operating segment to report positive operating income for the period. Revenues in this segment were the result of new accounts and increased ordering activity from existing accounts.

The company also formed a new subsidiary, Downhole Completion Products, Inc which added $298,907 in revenue during the second quarter.

Revenues for wholly-owned subsidiary Shumate Energy Technologies dropped 28.7% while revenues of 48.1% owned Delta Seaboard International, Inc. dropped 12.3% in the second quarter. The decline in revenue for both of these companies was the result of weaker oil and gas drilling activity.

American International Industries is a diversified holding company with interests in industry, finance, oil & gas, and real estate.

*Price per share represents the price of the last sale at the time the article was published.

Disclosure: The author holds a long position in AMIN at the time of this article.

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